Retail Sales Bounce Up 17.7% After Record Drop As States Reopen

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Source: NPR

As more states and cities reopened restaurants and shopping centers, U.S. retail spending swung big in May, climbing 17.7%, the U.S. Commerce Department said Tuesday.

May’s upswing follows a record historic collapse in March and April, when retail spending nosedived as people avoided outings for food or shopping, especially for clothes and furniture.

Retail sales – a measure that includes spending on gasoline, cars, food and drink – are a key part of the economy, which is sputtering back at different rates across the country after weeks of lockdowns.

This made online retail the only category to see demand grow even during the April meltdown, when retail sales overall fell a revised 14.7% from March.

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